Cues to watch for in trade on Jan 17

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Cues to watch for in trade on Jan 17
Markets are likely to open with a gap down, on weak global cues. Overnight the US Dow Jones dropped after earnings disappointed in the US.

The SGX Nifty is down 20 points, suggesting a weak opening for the Indian markets. In Asia, the Japanese Nikkei, the Hong Kong's Hang Sang and the Seoul Composite are all trading lower.

In individual stock action, one needs to watch out for TCS, which declared its results after close of market hours. It's likely that the stock may come under pressure after declaring a mixed set of numbers.

Also watch out for HCL Tech, which rallied more than 4 per cent after a good set of numbers. HDFC Bank may see some action today after the company is set to announce its Q3 numbers later today. Heavyweight, Reliance Industries may also be volatile ahead of its Q3 numbers which will be declared after market hours today.

Another heavyweight, ITC is also likely to declare its results today.

Bharti Airtel which fell more than 4 per cent yesterday may see some more action today after the stock was downgraded by a foreign brokerage firm.

Tata Motors is also likely to be in the limelight after the company reported a good sales growth for JLR in India. Meanwhile, FIIs made net purchases of Rs 479 crore in the cash market on Jan 16.

Read more about: market cues, sgx nifty, tcs, reliance, itc
Story first published: Friday, January 17, 2014, 8:40 [IST]
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